Gokul Rajaram Sells 1,150 Shares of Pinterest, Inc. (NYSE:PINS) Stock

Pinterest, Inc. (NYSE:PINS) Director Gokul Rajaram sold 1,150 shares of Pinterest stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $30.43, for a total transaction of $34,994.50. Following the sale, the director now directly owns 30,236 shares of the company’s stock, valued at $920,081.48. This trade represents a 3.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Gokul Rajaram also recently made the following trade(s):

• On Wednesday, December 18th, Gokul Rajaram sold 1,150 shares of Pinterest stock. The stock was sold at an average price of $30.98, for a total value of $35,627.00.
• On Wednesday, November 20th, Gokul Rajaram sold 1,150 shares of Pinterest stock. The stock was sold at an average price of $29.73, for a total value of $34,189.50.

Pinterest Stock Up 0.3 %

PINS stock opened at $30.50 on Friday. The company has a market cap of $20.61 billion, a PE ratio of 101.65, a price-to-earnings-growth ratio of 1.52 and a beta of 1.04. Pinterest, Inc. has a twelve month low of $27.00 and a twelve month high of $45.19. The business’s 50-day simple moving average is $30.41 and its 200 day simple moving average is $32.48.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PINS. Piper Sandler cut Pinterest from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $41.00 to $36.00 in a research note on Tuesday, December 10th. KeyCorp decreased their target price on shares of Pinterest from $39.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Benchmark restated a “hold” rating on shares of Pinterest in a report on Friday, November 8th. TD Cowen began coverage on shares of Pinterest in a report on Tuesday, November 26th. They issued a “buy” rating and a $38.00 price objective for the company. Finally, Raymond James cut their target price on Pinterest from $40.00 to $34.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $40.86.

Institutional Investors Weigh In On Pinterest

A number of institutional investors have recently bought and sold shares of the business. Brown Shipley& Co Ltd bought a new stake in shares of Pinterest in the 2nd quarter valued at approximately $25,000. GAMMA Investing LLC boosted its stake in Pinterest by 63.5% in the fourth quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock worth $31,000 after purchasing an additional 415 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Pinterest during the third quarter worth $37,000. Crewe Advisors LLC increased its stake in shares of Pinterest by 91.1% in the third quarter. Crewe Advisors LLC now owns 1,154 shares of the company’s stock valued at $37,000 after buying an additional 550 shares in the last quarter. Finally, True Wealth Design LLC raised its holdings in shares of Pinterest by 8,261.1% in the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock valued at $49,000 after buying an additional 1,487 shares during the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

About Pinterest

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.